By Cristal Cody
Chicago, Sept. 14 – Ontario Teachers’ Finance Trust sold a new $2 billion offering of 0.875% five-year notes with a spread of mid-swaps plus 10 basis points, or Treasuries plus 20.5 bps, according to a market source.
The notes priced directly on top launch spread talk in the mid-swaps plus 10 bps area.
Initial price talk on the single-tranche deal had started in the mid-swaps plus 14 bps area.
BofA Securities, CIBC, Citigroup and RBC are working as bookrunners on the Rule 144A and Regulation S deal.
Ontario Teachers’ Finance Trust is a Toronto-based financing arm of the Ontario Teachers’ Pension Plan Board.
| Issuer: | Ontario Teachers’ Finance Trust
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| Issue: | Notes
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| Amount: | $2 billion
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| Maturity: | Sept. 21, 2026
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| Bookrunners: | BofA Securities, CIBC, Citigroup and RBC
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| Coupon: | 0.875%
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| Spread: | Mid-swaps plus 10 bps, or Treasuries plus 20.5 bps
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| Trade date: | Sept. 14
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| Distribution: | Rule 144A and Regulation S
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| Price talk: | Mid-swaps plus 10 bps area; initial talk in mid-swaps plus 14 bps area
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